Assenagon Asset Management S.A. Raises Stake in Frontdoor Inc. $FTDR

Assenagon Asset Management S.A. lifted its stake in shares of Frontdoor Inc. (NASDAQ:FTDR) by 112.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,069 shares of the company’s stock after purchasing an additional 42,462 shares during the quarter. Assenagon Asset Management S.A. owned about 0.11% of Frontdoor worth $4,619,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Invesco Ltd. boosted its holdings in Frontdoor by 2.5% during the third quarter. Invesco Ltd. now owns 1,108,815 shares of the company’s stock worth $74,612,000 after buying an additional 27,410 shares in the last quarter. Wasatch Advisors LP increased its holdings in Frontdoor by 2.7% in the third quarter. Wasatch Advisors LP now owns 968,286 shares of the company’s stock valued at $65,156,000 after buying an additional 25,613 shares in the last quarter. Broad Bay Capital Management LP acquired a new stake in shares of Frontdoor during the 2nd quarter valued at approximately $46,886,000. Bank of America Corp DE lifted its position in shares of Frontdoor by 4.7% during the 2nd quarter. Bank of America Corp DE now owns 699,289 shares of the company’s stock valued at $41,216,000 after acquiring an additional 31,087 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Frontdoor by 18.4% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 627,791 shares of the company’s stock worth $42,244,000 after acquiring an additional 97,565 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FTDR shares. Weiss Ratings upgraded Frontdoor from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Oppenheimer reiterated an “outperform” rating and set a $70.00 target price on shares of Frontdoor in a research report on Thursday, February 26th. Wall Street Zen lowered Frontdoor from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. The Goldman Sachs Group upgraded Frontdoor from a “sell” rating to a “neutral” rating and raised their price target for the company from $50.00 to $67.00 in a research report on Monday, March 2nd. Finally, Truist Financial set a $71.00 price target on Frontdoor in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.60.

Frontdoor Price Performance

FTDR stock opened at $53.64 on Monday. The stock’s 50 day moving average price is $59.93 and its 200 day moving average price is $60.00. The firm has a market cap of $3.79 billion, a P/E ratio of 15.73 and a beta of 1.31. The company has a debt-to-equity ratio of 4.73, a quick ratio of 1.55 and a current ratio of 1.55. Frontdoor Inc. has a 1 year low of $35.61 and a 1 year high of $70.77.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.12. Frontdoor had a return on equity of 120.79% and a net margin of 12.18%.The company had revenue of $433.00 million during the quarter, compared to the consensus estimate of $421.62 million. During the same quarter last year, the business posted $0.27 earnings per share. Frontdoor’s revenue was up 13.1% compared to the same quarter last year. On average, sell-side analysts expect that Frontdoor Inc. will post 3.07 earnings per share for the current fiscal year.

Frontdoor Profile

Frontdoor, Inc (NASDAQ:FTDR) is a leading provider of home service plans and repair solutions for residential property owners. The company offers contract-based coverage that helps homeowners manage the cost of repairing and replacing essential household systems and appliances, including heating and cooling, plumbing, electrical wiring, water heaters, washers, dryers, refrigerators and other major kitchen equipment.

Frontdoor delivers its services through a nationwide network of independent service professionals and contractors, leveraging a cloud-based platform and call center infrastructure to coordinate service visits and process claims.